“Customers continued to operate in a real-time mode, maintaining minimal component inventory and ordering parts as they were needed,” Chief Executive Rich Templeton said in a statement.

Templeton added that the analog and embedded processing segment accounted for 77% of the company’s revenue, five percentage points higher than the prior year. The company’s 33% dividend hike to $1.12 a share, announced during the quarter, reflects the company’s “confidence in the long-term sustainability of our Analog and Embedded Processing business model,” he said.

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Texas Instruments also provided an outlook for the current quarter that beat the Street’s view. It expects second-quarter earnings of 37 cents a share to 45 cents and revenue of $2.93 billion to $3.17 billion.

Shares of Texas Instruments were up a penny at $4.82 in after-hours trading.